Basic interest rate increases to 8.75% in Costa Rica

Negotiations carried out this week with titles from the BCCR (Central Bank) and the Government in the secondary market were part of the effect that cause the increase in the basic passive interest rate which comes into effect today.

Thursday, September 4, 2008

The basic passive interest rate, an average of the interest rates for savings colones for periods between 150 days (5 months) and 210 days (7 months), goes up starting this Thursday from 8.50% to 8.75%.
The current basic rate is double what it was in May; nonetheless, it does not coverage actual nor projected inflation.

More on this topic

Basic Interest Rate Reaches 8.5% in Costa Rica

January 2012

From today the basic passive rate (TBP in Spanish) rose half a percentage point to settle at 8.5%, a level not seen since May 2010.

"The increase was caused by higher deposit rates at state-owned banks, which are the entities that carry the most weight in the definition of the TBP.

Costa Rica: Basic Rate at 11.5%

January 2009

The half point drop effective from today, is the first for the year after two consecutive increases.

Elfinanciero.com reports: "The Basic Passive Rate is an average of the rates paid for investments by financial entities, the Ministry of Housing, and the Central Bank for terms of 150 and 210 days.

Basic interest rate raised to 9.25% in Costa Rica

September 2008

The basic passive rate, which is an average of the savings interest rates, will go up today by 0.5 percentage points, from 8.75% to 9.25%.

This increase will make it a full 5 percentage point increase since last May, when it was at a historic low of 4.25%.
The basic passive rate is an average of the savings interest rates in colones for terms between 150 days (5 months) and 210 days (7 months).

Central Bank of Costa Rica increases basic rate to 8.50%

August 2008

The passive basic rate (an average of the interest rates for savings in colones at terms of 150 to 210 days) goes up starting today, from 7.75% to 8.50%

This is the ninth increase so far this year and the third at 0.75 points. At the current value, the basic rate is at the highest recorded during this year.

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